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| JUNE 2004 |
A Publication of
ELLIOTT® & Company Appraisers |
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ELLIOTT®
TO HOLD
FACTORY BUILT HOMES APPRAISAL CONFERENCE |
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 In
its ongoing effort to keep its real estate appraisers well informed in all
facets of their profession, ELLIOTT® & Company Appraisers will hold a
Factory Built Homes Appraisal Conference on August 6 at its headquarters
in Greensboro, NC. The program is open to all appraisers affiliated with
ELLIOTT® & Company Appraisers, as well as the company’s clients. It will
be held in conjunction with the company’s Fall Appraisal Conference.
Scheduled speakers will include a log-home manufacturer, a
manufactured/modular home manufacturer and a factory-built home-loan
underwriter. Admission is free, but space is limited. Registration is on a
first-come first-served basis. This program is not intended to qualify for
continuing education credit.
For further information contact Mary Jefferson at (800) 854-5889.
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WHAT IS
THE DIFFERENCE BETWEEN
FACTORY-BUILT HOUSING AND MANUFACTURED HOUSING? |
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 Not
only does the general public have a misperception of the differences
between factory-built housing and manufactured housing, but homebuyers,
city planners, developers and even builders also fail to understand the
fine line that separates them.
The Dictionary of Real Estate Appraisal defines “manufactured home” as “a
factory-built house manufactured under the Federal Manufactured Home
Construction and Safety Standards Act of 1976, commonly known as the HUD
Code.” Manufactured homes of today, while superior in many ways, are what
would have been referred to as mobile homes prior to 1976.
By the definition, all manufactured housing is factory-built housing. Not
all factory-built housing, however, is manufactured housing. There are, in
fact, four types of factory-built homes: manufactured homes, modular
homes, panelized homes and pre-cut homes.
Modular homes have their components manufactured in a factory. The
components are then transported to the site, where they are installed.
Panelized homes consist of factory-built panels that are trucked to the
site and lifted into place with a crane. The panels are usually floor or
wall panels. Pre-cut homes are partially built in a factory and then
shipped to the site for installation and final assembly.
Once these homes are permanently attached to a foundation, they are
eligible for conventional mortgage financing.
Today’s factory-built housing makes up a larger portion of the housing
market than it had in the past. It consists of a broad range of quality,
beginning with the entry level manufactured home and extending through top
of the line log and cedar packages that compete with the high quality
traditional site-built homes. |
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QUOTES
OF WIT & WISDOM |
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“Prosperity depends more on wanting
what you have than having what you want.” –
Geoffrey Abert
“One of the sanest, surest and most generous joys of life comes
from being happy over the good fortune of others.”
– Archibald Rutledge
“We must stop talking about the American dream and start
listening to the dreams of Americans.” – Ruben Askew
“The world is a dangerous place to live; not because of people
who are evil, but because of people who don’t do anything about
it.”
– Albert Einstein
“Most human beings have an infinite capacity for taking things
for granted.” – Aldous Huxley |
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ELLIOTT® & Company Appraisers
currently offers appraisal service throughout all 50 of the United
States. Clients are encouraged to place orders directly to any
office local to properties to be appraised or to the central office
for assignment.
Orders may
be placed via telephone, fax or through the company's Web site. All
Internet orders will be processed through the central office.
Some
Offices Are Independently Owned and Operated
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3316-A Battleground Avenue
Greensboro, NC 27410
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